In the same week when the special law on the construction of floating liquefied natural gas (LNG) terminal on the island of Krk has been forwarded to legislative procedure, the project suffered a terrible blow after the conclusion of the first round of tender for submission of binding offers for the lease of the terminal’s capacity.
Namely, just one binding offer has been received on the tender, with the capacity of just 100 million cubic meters of gas per year. The offer was submitted by Croatian national oil company INA. Given that the planned capacity of future LNG terminal is 2.4 billion cubic meters of gas per year, this means that only about 4 % of its total capacity could be leased, which is far below threshold for financial viability of the project.
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